“Even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” said Brian Cornell, the company’s CEO.
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“Even in food and beverage categories, over the last few quarters, the units, the number of items they’re buying, has been declining,” said Brian Cornell, the company’s CEO.
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With volumes down but prices up, major food companies are still seeing growing profits.
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As if running a food and beverage company wasn’t hard enough.
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Some fascinating data for organic brands targeting the U.S. Hispanic market.
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According to General Mills CEO Jeff Harmening, “Supply disruptions remain well above historical averages, and we aren’t forecasting a return to pre-pandemic levels of supply disruptions or customer service during this fiscal year.”
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Crop disease is ravaging lettuce fields in the Salinas Valley.
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Not a good thing for future food prices.
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Avian influenza has decimated conventional chicken flocks, leading to fewer eggs and higher prices.
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Food companies may be forced to choose between additional price hikes or potential layoffs.
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The price of water has increased for farmers, as rising temperatures and droughts in the Western region of the U.S. have hampered their ability to grow crops.
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Some companies and restaurants have continued to raise prices on consumers even after their own inflation-related costs have been covered.
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Food prices are soaring around the world, due largely to the pandemic and severe supply chain disruptions because of climate change.
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With factory-farmed meat suffering a litany of problems, the production of organic and grass-fed meats is growing.
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According to the latest report from the U.S. Bureau of Labor Statistics, the index for meats, poultry, fish and eggs increased 4.3%, and a separate index for egg prices alone surged by 16.1%.
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According to the Organic Trade Association, the U.S. organic market in 2018 broke through the $50 billion mark for the first time ever.
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The global growth in organic food has enabled sales to exceed the $100 billion mark for the first time ever.
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Last year, according to Nielsen, organic food and beverages cost an average of 24 cents more per unit than conventional food, or about 7.5% more. That was down from a 27 cent, or 9%, premium in 2014. One reason for this is the increase in number of organic products on the shelves.
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With a brutally competitive retail environment and a huge push to lower costs for consumers, it is uncertain whether organic brands will be able to raise prices?
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A look at how struggling towns are turning to organic and sustainable food ventures to reverse their economic fortunes.
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